Shopify Rival Swap Raises $100 Million Just Six Months After $40 Million Round

Swap Commerce, an e-commerce startup competing with Shopify, has raised $100 million in new funding, just six months after securing $40 million in a Series B round, the company announced Wednesday.

The latest round was backed by venture capital firms DST Global and Iconiq, which are increasing their investments in the London- and New York–based company. Iconiq previously led Swap’s Series B financing earlier this year.

Founded in 2022, Swap Commerce offers an AI-powered platform that enables brands to build online storefronts and manage cross-border transactions, inventory, and returns. The company has seen strong adoption among luxury fashion brands, particularly those seeking to sell products globally.

Swap declined to disclose its valuation following the funding.

The size and speed of Swap’s recent fundraising highlight growing investor interest in the company, though it operates in a highly competitive market dominated by established players such as Shopify.